U.S. oil soars to highest since 2011 amid OPEC+ decision, Ukraine conflict

NEW YORK, March 3: Oil prices surged again on Wednesday after major oil producers decided to stick to modest output increase despite supply fears amid the Russia-Ukraine conflict.

The West Texas Intermediate (WTI) for April delivery added 7.19 U.S. dollars, or 7 percent, to settle at 110.60 dollars a barrel on the New York Mercantile Exchange, the highest finish since 2011.